Home Depot shares are trading lower. The company last week announced an agreement to acquire SRS Distribution in an $18.25 billion deal.
Portfolio Pulse from Benzinga Newsdesk
Home Depot's shares are trading lower following the announcement last week of its agreement to acquire SRS Distribution in a deal valued at $18.25 billion.
April 01, 2024 | 4:47 pm
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Home Depot's stock is trading lower after the company announced its acquisition of SRS Distribution for $18.25 billion.
The decline in Home Depot's stock price can be attributed to the market's reaction to the significant cash outlay for the acquisition of SRS Distribution. Such large transactions often lead to initial skepticism among investors regarding the deal's value, integration costs, and potential debt increase, which can negatively impact the stock price in the short term.
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